What is the Current Job market for an RN?
Posted On December 29,2016
The job market outlook for Registered Nurses has been increasingly moving in a positive direction. Nursing is currently America’s fifth largest occupation. Retiring boomers are creating a rising demand for RNs. Here are more details on why nursing careers have a promising future for more opportunities and rising wages.
Benefits to RN Careers
- competitive salary with plenty or room for advancement
- broad range of employers in all parts of the country
- state licenses are easily transferred to other states
- long term job security
- personally rewarding for helping others resolve health issues
Regional Projections for Nursing Jobs
The United States currently has 2.8 million nurses, in which over half work in hospitals. Many times hospitals must resort to temp agencies to fill positions. Other techniques to meet demand include signing bonuses, overtime pay and hiring nurse recruiters. Even nurses who have only been in the business for a year can receive a sign-on bonus as high as $15,000.
On a regional level, certain areas need more nurses than others. Shortages of nurses are projected in New England and the West Coast. Meanwhile, in Pennsylvania, Florida and Nebraska, many new nursing opportunities have extended beyond hospitals. Demand for nurses continues to surge in Iowa and Texas.
Several rural states have provided increasingly broader roles for nurses as primary care physicians. These responsibilities include prescribing medicine and diagnosing medical conditions.
Reasons for Increasing Demand
As baby boomers increasingly reach retirement age, more doors are opening for graduates. This factor is the number one driver of expanding nursing job opportunities for youth. Another key reason is population growth, making registered nurses are number one most in demand out of all occupations.
Since over half of current RNs are over age 50, the door is wide open for positions to be filled in the near future. Furthermore, over 60% of these RNs are going to retire in the next three years due to the aging baby boomer generation.
Industry Statistics
Statistics show that the number of RN jobs in 2014 was 2,751,000 with a faster than average job outlook of 16% through 2024. Based on these numbers, the increase in jobs is expected to be 439,000. Median pay in May 2015 for RNs was $67, 490 annually and $32.45 per hour. While the bottom 10% earned under $46,360, the top 10% earned over $101, 630. Government workers on average are the top earners, followed by state, local and private hospital workers.
RNs have a bright future ahead in terms of pay and job outlook. Rising demand makes it one of the fastest growing fields in America. Due to current job shortages, new graduates will have plenty of opportunities to fill positions for the next several years.
